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Reviving risk capital: The proposal to amend EuVECA and EuSEF [EU Legislation in Progress]

Written by Angelos Delivorias (3rd edition),

Capital Concept

© duncanandison / Fotolia

The European Venture Capital Funds (EuVECA) and European Social Entrepreneurship Funds (EuSEF) are collective investment schemes, harmonised at EU level by means of two Regulations: (EU) No 345/2013 (EuVECA) and (EU) No 346/2013 (EuSEF). In its 2016 review, the Commission noted that these funds remain small and concentrated in a few Member States and that, while the take-up of EuVECA could be considered successful, the EuSEF results have been disappointing. To overcome the obstacles identified, it has proposed some measures that − by removing limitations on larger managers managing EuVECA and EuSEF funds, decreasing costs for EuVECA and EuSEF funds, and broadening the range of eligible assets EuVECA funds may invest in − should increase investment into these funds. The Commission’s proposal was extensively amended by the European Parliament and the Council, with regard to – among other things – initial capital requirements for those funds, minimum own funds for the funds’ managers, investor-protection provisions, as well as the powers of the European Securities and Markets Authority (ESMA). The provisional agreement struck in trilogue is due to be voted during the European Parliament’s September plenary session.

Interactive PDF

Proposal for a Regulation amending Regulation (EU) No 345/2013 on European venture capital funds (EuVECA) and Regulation (EU) No 346/2013 on European social entrepreneurship funds (EuSEF)
Committee responsible:

Rapporteur:

Shadow rapporteurs:

 

 

 

Economic and Monetary Affairs (ECON)

Sirpa Pietikäinen (EPP, Finland)

Andrea Cozzolino (S&D, Italy)

Syed Kamall (ECR, UK)

Cora Van Nieuwenhuizen (ALDE, the Netherlands)

Marco Zanni (EFDD, Italy)

COM(2016)0461 14.07.2016, 2016/0221(COD)

Ordinary legislative procedure (COD) (Parliament and Council on equal footing – formerly ‘co-decision’)

Next steps expected: Vote in plenary

 

 

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The content of all documents (and articles) contained in this blog is the sole responsibility of the author and any opinions expressed therein do not necessarily represent the official position of the European Parliament. It is addressed to the Members and staff of the EP for their parliamentary work. Reproduction and translation for non-commercial purposes are authorised, provided the source is acknowledged and the European Parliament is given prior notice and sent a copy. Copyright © European Union, 2014. All rights reserved

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